• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Bunge Ltd (NYSE:BG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Bunge Ltd (NYSE:BG) based on the price action in the company's shares. Yesterday's price range of $75.47 and $76.38 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Bunge Ltd may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 7.4% for shares of Bunge Ltd based on a current price of $75.93 and an average consensus analyst price target of $81.55. The stock should discover initial support at its 200-day moving average (MA) of $65.95 and subsequent support at its 50-day MA of $56.60.

Bunge Limited is a global agribusiness and food company. The Company buys, sells, stores, transports, and processes oilseeds and grains to make protein meal for animal feed and edible oil products for commercial customers and consumers. Bunge also produces sugar and ethanol from sugarcane, mills wheat and corn, and sells fertilizer.

In the past 52 weeks, shares of Bunge Ltd have traded between a low of $56.69 and a high of $83.75 and closed yesterday at $75.93, which is 34% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.7%.

SmarTrend is monitoring the recent change of momentum in Bunge Ltd. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Bunge Ltd in search of a potential trend change.

Keywords: bullish am inside day candle Bunge Ltd

Ticker(s): BG